Last week, the independent boutique announced Countplus had taken a 25 per cent stake in the business via a cash injection.
"It has absolutely strengthened our balance sheet, which was strong previously but now it's extremely strong," Hood Sweeney managing director Matthew Rowe told InvestorDaily.
"We're going to be using those funds to make acquisitions going forward because we believe that making acquisitions via equity contribution instead of debt is a much lower risk strategy, particularly in the current environment."
Hood Sweeney was in several discussions with a number of practices, Mr Rowe said.
"We've already had approaches from firms that have had their own succession planning issues because they know we're on a growth trajectory - we have access to capital, the expertise to do these sorts of transactions and have a greater appetite for them.
"We're a much stronger suitor than perhaps some others in the South Australian market."
Despite the new competitive advantage and growth opportunities for the company, it was not in a hurry to buy businesses or commit to a timeframe, Mr Rowe said.
"We're not going to grow for the sake of growth.
"We want them to be the right fit for us but absolutely, we envisage over the next 12 months that there'll be significant growth in our business going forward."
In addition, he said boutique groups had significantly expanded in size and were no longer constrained to a "two-man practice" definition, which was a reflection of consolidation occurring in the independent space.
The partnership will enable Hood Sweeney advisers to access to Countplus' network around Australia, its cloud-based technology, corporate governance and technical and training resources.
